To Study of Procurement Cycles in Manufacturing Industry

Procurement management is a strategic approach to optimizing organizational spend. It invoices sourcing, requisitioning, ordering, inspection, and reconciliation. It means acquiring your goods and services from preferred vendors, within your determined budget, either on or before the deadline. The ACE Group is one of the leading producers of Acoustic Enclosure, Base Skids, Transformer, the core values of ACE are trust, honesty, responsibility, professionalism, appreciation. These are the main values for success of a company. ACE turnover and gross profit have shown a noteworthy growth, profit before tax increased significantly by 46% as compared to previous year. Profit after tax increased by 48% and earning per share reflect the same trend. During my six -week internship period I studied several documents of company along with other documents describing regulations and guidelines which are necessary for the effective working of multinational company.